Catenaa, Tuesday, January 21, 2025 – Apple and Google have taken down several apps developed by the Cambodia-based Huione Group after allegations of the company running the largest dark web marketplace for illicit transactions, valued at $24 billion.
According to reports by blockchain analytics firms Elliptic and Chainalysis, Huione Group operates Huione Guarantee, a Telegram-based platform providing money laundering services, stolen data, and other tools for fraud.
The platform surpasses infamous markets like Silk Road and Hydra in scale, marking it as the largest illegal online marketplace ever identified.
Google confirmed the removal of all Huione-linked apps from its store, while Apple removed the group’s crypto exchange app but left other products available. Both companies declined to provide detailed comments.
Elliptic’s investigation revealed Huione Guarantee’s role as an escrow provider for thousands of Telegram vendors facilitating fraudulent activities, including “pig butchering” schemes.
These schemes involve tricking victims into fake crypto investments with promises of high returns. Other vendors offered items like stolen data and technology used to exploit scam victims.
While Huione Group also markets legitimate products like insurance and luxury travel, analysts argue its platform is a significant enabler of transnational organized crime.
Neither Telegram nor Huione Group has responded to the developments and the allegations levelled against them.
